
Weekly Indices
DJIA: 40,659.76 (+2.94%)
NASDAQ: 17,631.72 (+5.29%)
S&P 500: 5,554.25 (+3.93%)
Commodities
Gold: 2,546.00 (+3.17%)
Copper: 416.00 (+4.29%)
Crude Oil: 75.59 (-1.91%)
New Video on the Stock Rover Table
We have created a brand new video that demonstrates the Stock Rover Table, which is an incredibly powerful facility for comparing stocks and ETFs. You can watch the video here [1].
Economy
The Labor Department reported [2] that the producer price index for final demand, which measures the prices that producers pay for goods and services, increased by a seasonally adjusted (+0.1%) in July, following (+0.2%) reading in June. The index for final demand goods increased (+0.6%), the largest advance since February ’24. Nearly 60 percent of the increase was attributed to a (+1.9%) rise in final demand energy. The index for final demand services decreased (-0.2%) with most of the decline attributable to a (-1.3%) drop in margins for final demand trade services. Excluding food, energy and trade services, the core PPI increased (+0.3%), following an upwardly revised (+0.1%) in June. Year over year the headline PPI increased (+ 2.2%), a significant improvement from the (+2.7%) recorded in June. Core PPI inflation moved up (+3.3%) year over year from an upwardly revised (+3.2%) the previous month.
The Labor Department reported [3] the consumer price index increased (+0.2%) this followed a (-0.1%) decline in June. The all items index has increased (+2.9%) over the last 12 months, the lowest reading since March 2021. Nearly 90% of the monthly increase in the all items index was attributed to the shelter index which increased (+0.4%) in July after increasing (+0.2%). The energy index reported flat after two consecutive months of decline. The food index increased (+0.2%), while the food away from home index rose (+0.1%). Core CPI inflation which excludes food and energy increased (+0.2%) in July, after rising (+0.1%) in June. The annual rate of core CPI inflation increased (+3.2%) as compared to (+3.3%) the previous month, this was the smallest 12-month increase since April 2021. Indexes with significant increases over the last year include motor vehicle insurance (+18.6%), shelter (+5.1%), medical care (+3.2%), personal care (+3.4%), and recreation (+1.4%).
The Commerce Department reported [4] advance U.S. retail and food services sales increased to $709.7 billion in July, a (+1.0%) jump, this follows a revised decrease of (-0.2%) instead of (0.0%) for June. Retail sales were up (+2.7%) year over year. Total sales for May 2024 through July 2024 were up (+2.4%) year over year. Retail sales are mostly goods and are not adjusted for inflation. Excluding sales at auto dealerships and gas stations, sales were up (+0.4%). Sales for auto dealers and parts increased (+3.6%), while miscellaneous retailers saw a (-2.5%) drop. Auto dealers (+4.0%) led the way in sales increase. Restaurants, the only services category increased (+0.3%). Core retail sales, a measurement that excludes spending on autos, gasoline, building materials, and food services rose (+0.3%) in July and follows a (+0.9%) reading the previous month.
Upcoming Economic Reports:
Thursday August 22 – Initial Jobless Claims
Friday August 23 – New Home Sales (July)
Earnings Calendar:
Monday | Tuesday | Wednesday | Thursday | Friday |
---|---|---|---|---|
Estee Lauder Cos (EL) |
Lowe’s Companies (LOW) |
Analog Devices (ADI) |
Dollar Tree (DLTR) |
Bank of Comms Co (BCMXY) |
Palo Alto Networks (PANW) |
Medtronic (MDT) |
TJX Companies (TJX) |
Intuit (INTU) |
Ubiquiti (UI) |